Weekly Technical Analysis, New Zealand Dollar NZD-USD


The New Zealand dollar pair is trading on the H4 frame inside a channel that tends to rise slightly, but the upper leg formed a resistance that prevented the price from continuing the rise to reach the main resistance at 0.6775. We expect prices to drop from the current area at 0.6690, with the first target on touching the opposite side. The price may rise to the major resistance at 0.6775 which will be a strong selling area that could be boosted by selling from better positions. Traders are advised to maintain a suitable stop loss for all trades.

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Adjustment: Score = + 95 profit points